Wednesday, November 26, 2008

Sezmi Corporation, creator of the first complete personal TV system has secured $33 million

What Company Is Offering:
Sezmi Corporation has developed the first complete personal TV offering by combining traditional TV content, movies and internet video in a single easy-to-use product. Designed from the ground up with next generation TV functionality, Sezmi puts consumers in total control with a personalized on-demand viewing experience. Sezmi is working with partners from broadcast, broadband, content and advertising industries to create a new TV choice for consumers.

How Much They Got From VCs:

Sezmi Corporation, creator of the first complete personal TV system, announced that it has secured $33 million of additional financing. This amount includes new investments from Advanced Equities, Inc. and others, and follow-on investments from previous investors: Morgenthaler Ventures, Omni Capital Group, TD Fund, and Legend Ventures.

“This round of funding enables us to put the final touches on product development and testing, and bring the Sezmi service to market,” said Buno Pati, co-founder and CEO of Sezmi. “We are pleased to welcome our new investors and would like to thank our previous investors for their ongoing support.

“Sezmi has a strong plan and has established a unique position in the market,” said Bob Pavey, general partner of Morgenthaler Ventures. “Sezmi has demonstrated not only the viability of its offering, but also its ability to reach milestones as set forth in its plan. We strongly believe in Sezmi and its management team; this funding reflects our enthusiasm for the opportunity to contribute to Sezmi’s growth.”

More at:
Sezmi Corporation
Barbara Cassidy, 650-631-7100
A&R Edelman
Jody Farrar, 650-762-2925

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